Lawyer Commoditization

Friedmann is speaking to Big Law, and Herrmann to in-house lawyers, but the message is the same: commoditization is coming, and there’s nothing special about the law that’s going to keep the forces of automation and progress from sweeping up a whole lot of the legal work that lawyers are beavering away on these days.

And while that’s bad for those who get run over by this trend, it is potentially great for consumers of legal services, who still face an industry that overwhelmingly offers nothing but bespoke options – with prices to match.

Foodies may look down their snoots at the super-sized sameness of McDonalds, but for a whole lot of people, the combination of price, quality, consistency, and quick service makes it a compelling choice. Think consumers wouldn’t flock to the equivalent in law?

There’s even a silver lining for attorneys in areas ripe for commoditization: instead of ignoring this trend, embrace it head-on. Create packaged, price-transparent offers for frequently-used services. Build the systems and processes to handle a higher volume of clients a whole lot more efficiently. Start giving the market what it can’t get today, but desperately wants.

Even in commoditized industries, lots of businesses can grow and thrive. But it takes recognizing and adapting to the changes that are occurring around them.